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Weekly Recap: Ferrari plans to gradually increase production by 2019

Ferrari has long been known for the exclusivity of its performance machines. It's on a different level than Porsche, BMW, and Mercedes. But as it transitions to a new era of independence from Fiat Chrysler, Ferrari is going to get a little less exclusive. It's by design, and it means a subtle, slow ramp-up of production – a move Ferrari believes will ensure its future by meeting growing demand in new markets. The strategy was detailed in SEC documents filed this month as part of the company's pending stock offering. The files reveal Ferrari will gradually increase shipments to about 9,000 units per year by 2019. This is a reversal of Ferrari's 2013 plans to cap production at 7,000 cars annually, which it hit on the nose that year. Ferrari shipments inched up to 7,255 in 2014, though that's down from 2012's record tally of 7,405. Ferrari is a vastly different operation than it was in 2013. Longtime chairman Luca di Montezemolo stepped down last fall, and FCA chief executive Sergio Marchionne has been overseeing the company since then. Its IPO has attracted high levels of attention from enthusiasts and investors. As expected, demand has reportedly outstripped the availability of the stock, which has an estimated offering price of $48 to $52 a share. Speaking of more Ferraris, the company revealed a limited-edition model this week called the F12tdf (shown above). Based on the F12 Berlinetta, the car is a salute to the Tour de France endurance auto race that Ferrari dominated in the 1950s and '60s. The V12 engine's output increases to 769 horsepower, while weight is cut by 243 pounds – allowing for a sprint to 60 mph in 2.9 seconds. Dramatic carbon-fiber elements and a radical redesign of the body panels give the F12 a more dramatic look. It will be limited to 799 units over the life of the car. If this is how Ferrari is increasing production, we're more than okay with the company's new strategy. OTHER NEWS & NOTES Tesla software unlocks Autopilot features Tesla released the latest version of its software for the Model S this week, which allows the all-electric sedan to drive in a semi-autonomous state called Autopilot. Tesla Version 7.0 enables the Model S to maintain lane position, change lanes by touching the turn signal, and manage the car's speed using an advanced, traffic-sensing cruise control. It also has a parallel parking feature, which searches for open spots and then parks your Tesla.

6 luxury car brands to watch in 2024

2023 was a healthy year for the auto industry, and even with incentives returning and dealer lots filling up, there's plenty to like about the market if you build luxury automobiles, and we expect 2024 to be more of the same, which makes luxury-segment rivalries all the more interesting. Top luxury car brand rivalries? Well, that sounds downright uncivilized. But we know better, don't we? And when every quarterly sales update is an opportunity to remind somebody else that they bought the wrong status symbol, well, who can resist? Certainly not the diehard customers who fly their favorite brands' banners high.  Read more: Auto sales: Industry records best year since 2019 Read more: 2023 auto sales and 2024 preview: Ford Bronco vs. Jeep Wrangler This is a tricky segment to define, but essentially, we're looking at luxury car brands with depth to their portfolios and dealerships that exist to attract real-world customers. The Bentleys, Rolls-Royces and McLarens of the world are luxury cars, certainly, but we're more concerned with brands that have a bit more mass appeal — manufacturers who treat supply constraints as fiascos rather than features. If you disagree with our selections, feel free to let us know in the comments.  And since we're mostly concerned with finishing order, the luxury brands and totals featured here may change as new data come in throughout 2024. Due to the wild swings of the past several years, we're treating 2023 as the baseline by which we'll measure sales performance. And rather than rank brands vs. their finishing order in 2022, when supply-chain and inflationary issues still played havoc with sales figures, we're starting 2024 off with a clean slate.  The mainstream luxury segment is always a dogfight, but with their varied approaches to electrification all of the major luxury brands are in the midst of reshaping the premium landscape. Who is doing it right? Well, according to U.S. shoppers, the usual suspects are up to their old tricks.

The BMW 507 Elvis drove in the Army has been restored

Two years ago, BMW Classic Group started work on a 507 roadster once owned by Elvis Presley, the King of Rock 'n' Roll. The car's restoration is now complete, and it is scheduled to make its debut at the Pebble Beach Concours d'Elegance on August 21. BMW Classic gives a look into what it took too get the car back in shape. Elvis's 507 was found by Jackie Jouret from Bimmer magazine in the barn of Jack Castor. Castor purchased the car in 1968 and held onto it since. The pair was able to confirm the car was owned by Elvis, who acquired it when stationed in Germany with the US Army. As you can see from the photo above, the car was not in good shape. Aside from the tired looking paint and body, there was a lot that needed to be repaired, replaced, or reconstructed. At some point, someone saw fit to drop in a Chevy V8, which meant the restorers had to not only build a new BMW V8 for it, but also had to repair the subframe where it had been modified. The interior was in bad shape as well, with seats that needed their own ground-up restoration, and a dashboard that was just completely missing. The restoration group also had to remove eight paint jobs the car received over its lifetime. One of those resprays was commissioned by Elvis himself. The car was originally white when it was raced by Hans Stuck, but after Elvis purchased it he reportedly painted it red to help hide lipstick and messages left by fans. BMW Classic Group restored this car back to its original condition, which also means it's back to its original white paint. The car will be on display at this year's Pebble Beach Concours d'Elegance alongside a number of other vintage BMWs celebrating the company's centennial. If you want more information and photos of the restoration, be sure to check out BMW Classic Group's website. Related Video: Related Gallery Elvis Presley's 1957 BMW 507 View 59 Photos News Source: Pebble Beach Concours d'Elegance, BMW Classic GroupImage Credit: BMW Classic Group Auto News Celebrities BMW Convertible Classics bmw 507